The National Business Council (CONEP), in its most recent
\nnews analysis published in El Caribe on Sunday, approved the unification of the
\nexchange market on the grounds that the government would no longer be able to
\nmanipulate it to suit its own purposes. CONEP says the official transactions
\nrepresent only 12% of the total market, and that if the Central Bank adequately
\nplans its public debt and petroleum payments, stability should not be affected.
\nThe anxiety in the market that caused the peso to slide last week was attributed
\nto an acute sensitivity in the market to any rule changes. The market
\nunification will foster competitiveness, promote exports versus imports and
\ndiscourage the release of money without reserves, according to the foremost
\nbusiness sector association. The challenge ahead, CONEP predicts, is for the
\nauthorities to promote competition in the exchange system, in order to truly
\nestablish a free market, while implementing macroeconomic policies to encourage
\na stable rate of exchange at levels that stimulate exports without artificially
\nreducing the price of imports.<\/p>\n","protected":false},"excerpt":{"rendered":"
The National Business Council (CONEP), in its most recent news analysis published in El Caribe on Sunday, approved the unification of the exchange market on the grounds that the government would no longer be able to manipulate it to suit its own purposes. CONEP says the official transactions represent only 12% of the total market, … <\/p>\n